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Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we
re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.
On Monday, individuals in China were able to purchase bonds issued by t
he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N
ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc
ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.
The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu
ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno
wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.
cles are starting to gain momentum in the private market. With the overall vehicle market remaini
ng flat, sales of new energy vehicles last year reached 1.25 million, up 61.7 percent year-on-year, and
the figure is expected to reach 1.6 million this year according to the China Association of Automobile Manufacturers.
China plans to stop subsidies on new energy cars by the end of 2020. To ensure a smooth transi
tion, the government decides to achieve this goal by enacting policy in several phases. This year’s subs
idy standard was slashed 50 percent on average from 2018, Xinhua reported, citing a person with knowledge of the matter.
The source said the proportion cut is basically consistent with falling ratios of general cost for co
mplete vehicles, while pointing out with the rapid expansion of the NEV industry some enterprises tend
ed to become reliant on long-standing subsidies, leading to weak competitiveness.
The statement also asked local governments to remove subsidies on purchases o
f new energy cars after a three-month grace period starting Tuesday. Instead, more funds will be used
to build infrastructure, including charging and hydrogen refueling facilities, and to facilitate relevant services.
such an attitude. Any nation with very strong and rapid growth is always in a very difficu
lt position in public opinion because we are afraid about the strength of others,” he said.
“For example, we were afraid of cultural pressure from the United States in the 1960s, and 20 ye
ars later, we had the same feelings against Japan with its technological projects. Now, China is bac
k around the table of big nations. I think we have to accept that and not be afraid, but to discuss.”
Raffarin said the two countries are expected to close contracts and announce new projects. He also
said the dialogue between France and China could be very useful in forming a new vision for multilateralism in a changing world.
In addition to strong existing collaboration between France and China, including in the automotive, aviation and healthcare sectors, Raffarin said the most
important thing for the future of Sino-French relations is to identify third-country projects, such as the Hinkley Point C nu
clear power plant in the United Kingdom, which is jointly financed by China and France, as well as opportunities in Africa.
and greatly improve our work efficiency”, according to a released statement at a news conference held by the administration on Tuesday.
In the past, the residents in Chinese mainland could only apply for permits in their house
hold registration places with relevant documents, including identification card, hukou and application form.
National Immigration Administration holds a press conference on March 26, 2019.
Under the new measure, the residents will provide the same documents to apply for th
e passports and travel permits in their nearby exit and entry management departments, it said.
With the rapid development of China’s economy and society, a growing
number of people have been living, stuadying and working away from their hometown, and th
ere has been a strong demand for them to apply for the passports or travel permits in different places.
Data provided by the National Immigration Administra
tion show, this year, an estimated 21 million people will apply for passports and travel permits in di
ledge of jewelry and the history of the brands. She has placed many orders after watching these livestreaming videos.
Zhang is among the growing consumers who are willing to accept new things, learn about
overseas brands, cultures and lifestyle as well as make friends with overseas shoppers who share the same interests.
Online shopping via livestreaming videos is gaining traction among the post-80s and post-90s generatio
n consumers, who have increasing demands for premium brands and high-quality imported products amid consumption upgrade.
Statistics from Chinese cross-border e-commerce platform Ymatou showed that nearly 32 perc
ent of users buy products through livestreaming videos, and the post-80s and post-90s generation consumers, who tend to buy medieval peri
od jewelry, clothing and bags by watching livestreaming videos, have become the main force of overseas online shopping.
In the meantime, the post-2000 generation prefers to buy fashion brands, beauty makeup products, with high repurchasing rates.